The Optics Valley of China (OVC) 3551 International Startup Competition began evaluating entries in OVC on Aug 20. To date, 753 projects from around the world have poured in, with 54 percent of them focusing on artificial intelligence. After a thorough qualification review, 591 projects advanced to the preliminary review, and 258 secured spots in the preliminary round.

Technical mentors, venture capitalists, and industry experts assess the projects. [Photo/WeChat account of Optics Valley of China]

In the preliminary evaluation, an impressive 63.96 percent of core leaders hold master's or doctoral degrees, and 41.79 percent of the teams have overseas study or work experience. The competition also attracted foreign founders from the United States, Canada, the Netherlands, and other countries, who brought their projects directly to OVC's stage.

The preliminary evaluation was conducted by a panel of technical mentors, venture capitalists, and industry experts, who assessed the projects based on technical value, commercial potential, and industry adaptability. Judges from various fields noted that this year's projects are more practical and mature.

With the preliminary evaluation concluded, the 258 advancing projects are set to compete in the preliminary round across four major industry sectors: optoelectronic information, integrated circuits, life health, and artificial intelligence. They will also compete in four regional divisions: Beijing-Tianjin-Hebei, Yangtze River Delta, Guangdong-Hong Kong-Macao, and Europe.

This year's competition boasts a total prize pool of 12.5 million yuan ($1.86 million), with each of the "Top Ten" winners receiving 1 million yuan. These top ten competitors will be directly recognized as "3551 Entrepreneurship Talents". Advancing projects will have the opportunity to connect with industry leaders and receive comprehensive support, including policy, capital, and industry resources.